Solana is Predicted to Drop to $16.49 By Jul 11, 2023

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• Solana is up 11.83% right this moment in opposition to the US Greenback
• SOL/BTC elevated by 12.16% right this moment
• SOL/ETH elevated by 12.94% right this moment
• Solana is presently buying and selling 27.17% above our prediction on Jul 11, 2023
• Solana gained 2.69% within the final month and is down -42.12% since 1 yr in the past

SOL value is predicted to drop by -21.37% within the subsequent 5 days based on our Solana value prediction

is buying and selling at $ 20.98 after gaining 11.83% within the final 24 hours. The coin outperformed the cryptocurrency market, as the full crypto market cap elevated by 10.01% in the identical time interval. SOL carried out properly in opposition to BTC right this moment and recorded a 12.16% acquire in opposition to the world’s largest cryptocurrency.

In line with our Solana value prediction, SOL is predicted to achieve a value of $ 16.49 by Jul 11, 2023. This might symbolize a -21.37% value lower for SOL within the subsequent 5 days.

SOL Worth Prediction Chart

Purchase/Promote Solana

What has been occurring with Solana within the final 30 days

Solana has been displaying a constructive pattern lately, because the coin gained 2.69% within the final 30-days. The medium-term pattern for Solana has been bearish, with SOL dropping by -0.11% within the final 3 months. The long-term image for Solana has been detrimental, as SOL is presently displaying a -42.12% 1-year value change. On at the present time final yr, SOL was buying and selling at $ 36.24.

Solana reached its all-time excessive value on Nov 06, 2021, when the worth of SOL peaked at $ 259.52. The present SOL cycle excessive is $ 27.16, whereas the cycle low is at $ 8.12. SOL has been displaying low volatility lately – the 1-month volatility of the coin is at 9.34. Solana recorded 19 inexperienced days within the final 30 days.

Solana technical evaluation for right this moment – Jul 06, 2023

The sentiment within the Solana markets is presently Impartial, and the Concern & Greed index is studying Greed. An important assist ranges to observe are $ 18.74, $ 18.29 and $ 17.96, whereas $ 19.53, $ 19.87 and $ 20.32 are the important thing resistance ranges.

Impartial sentiment for Solana

20 indicators are presently signaling a bullish prediction for Solana, whereas 7 indicators are exhibiting a bearish forecast. With 74% of indicators favoring a constructive prediction. This leads to an general Impartial sentiment for Solana.

Crypto market is presently experiencing Greed

Presently, the Concern & Greed index is at 56 (Greed), which alerts that buyers have a constructive outlook in the marketplace. The Concern & Greed index is a measure of sentiment amongst cryptocurrency buyers. A “Greed” studying means that buyers are presently optimistic concerning the cryptocurrency market, however may also be a sign that the market is overvalued. A “Concern” studying, then again, alerts that buyers are presently hesitant concerning the cryptocurrency market, which probably represents a shopping for alternative.

Solana transferring averages & oscillators

Let’s check out what a number of the most necessary technical indicators are signaling. We’ll be going by means of key transferring averages and oscillators that may permit us to get a greater thought of how Solana is positioned out there proper now.

The Relative Power Index (RSI 14) is a broadly used indicator that helps inform buyers whether or not an asset is presently overbought or oversold. The RSI 14 for Solana is at 76.99, suggesting that SOL is presently overbought.

The 50-day Easy Shifting Common (SMA 50) takes under consideration the closing value of Solana over the past 50 days. Presently, Solana is buying and selling beneath the SMA 50 trendline, which is a bearish sign.

In the meantime, the 200-day Easy Shifting Common (SMA 200) is a long-term trendline that’s calculated by taking a mean of the SOL closing value for the final 200 days. SOL is now buying and selling above the SMA 200, signaling that the market is presently bullish.

The underside line about this Solana prediction

After contemplating the above elements, we are able to conclude that the present forecast for Solana value prediction is Impartial. SOL must lower by -21.37% to hit our $ 16.49 goal throughout the subsequent 5 days. Shifting ahead, will probably be necessary to watch the SOL market sentiment, the important thing assist and resistance ranges, and different metrics. Nonetheless, we’ve to take into account that the cryptocurrency markets are unpredictable, and even the biggest crypto belongings show lots of value volatility. For long-term Solana value predictions click on right here.

Disclaimer: This isn’t funding recommendation. The knowledge supplied is for normal functions solely. No data, supplies, providers and different content material supplied on this web page represent a solicitation, suggestion, endorsement, or any monetary, funding, or different recommendation. Search unbiased skilled session within the type of authorized, monetary, and monetary recommendation earlier than making any funding resolution.